Artgen Biotech (MOEX: ABIO) and Skolkovo Foundation (Foundation for Development of the Center for Elaboration and Commercialization of New Technologies NPO) have signed a cooperation agreement on development of technical leaders.
The agreement provides for establishment of conditions and implementation of activities aimed at cultivation of a technological leader dealing with the development and production of hi-tech products.
The main objectives of the agreement are to create the Competence center for development of biotechnological drugs and vaccines and industrial technopark to scale up technologies of production of these drugs and their small batch production.
“Skolkovo Innovation Center is one of the major institutes of innovative economy development in our country,” comments Sergey Masyuk, Artgen Biotech General Director. “With the strategic partnership contract Artgen Biotech will be able to implement tasks on the development of original innovative drugs, medical devices and medical services more efficiently.”
Within this agreement, Skolkovo Foundation will help Artgen Biotech interact with technology developers, financing organizations and hi-tech product customers. The Foundation will assist in attracting grants for research and development works, provide tax advantages and privileged credits for implementation of investment projects and support development of draft amendments to regulatory documents promoting elimination of regulatory hoops and preparation of proposals for submission to federal and regional executive authorities.
Artgen Biotech, in its turn, will deal with engineering support of production of hi-tech items and components based on proprietary technologies, establishment of research and production infrastructure on the territory of Skolkovo Innovative Center, arrangement of hi-tech production on their own capacities, implementation of complex research works in creation of new technologies, fund raising for research and development and marketing activities and promotion of hi-tech products.
Skolkovo Foundation — a large innovative center of Russia. It plays a significant role in national economy foundation reinforcement: startups developing business with the support of Skolkovo supply domestic hi-tech products for industry, medicine, transport, information technologies and many others.
Artgen Biotech is a biotechnological company, which possesses a portfolio of innovative platform-based R&D products and introduces them into healthcare. Artgen Biotech Group is composed of companies of various development stages — from the seed stage to the stage of early growth and maturity as well as companies establishing an ecosystem for biotech development acceleration within the group.